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The Gas Exporting Countries Forum determines its position on setting a specific price ceiling
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The Gas Exporting Countries Forum stressed the importance of protecting the gas infrastructure, and not accepting the interference of factories in the work of gas markets, or setting a ceiling on gas prices.
The announcement of the results of the seventh summit of heads of state and government participating in the forum, held in Algeria, stated: “Emphasizing the importance of protecting vital gas infrastructure, including cross-border infrastructure, to ensure its reliability and sustainability, as well as strengthening international cooperation in the field of risk reduction and prevention.” Natural disasters, technological failures, man-made threats, including deliberate attacks, and misuse of information and communications technologies.”
As stated in the declaration, the Forum countries expressed their rejection of any artificial interference in the workings of natural gas markets, “including attempts to change pricing and risk management functions, as well as the introduction of politically motivated price ceilings, which could only exacerbate the supply shortage in the market.” and discouraging investment.
Gas exporting countries have condemned the unprecedented unilateral measures and financial measures “justified as ensuring the security of energy supplies at the expense of gas market rules,” in addition to condemning all unilateral economic restrictions taken without prior approval from the UN Security Council, which negatively affect the exploitation of fields and trade. Gas. Members also stressed the rejection of using climate change as a justification for implementing measures that hinder investment in gas projects.
In addition, the Heads of State and Government welcomed the joining of Senegal, Mauritania and Mozambique to the Forum.
It is worth noting that the Gas Exporting Countries Forum is an intergovernmental organization that includes the world's largest gas exporters. Its members currently number 12 countries: Russia, Algeria, Bolivia, Venezuela, Egypt, Iran, Qatar, Libya, Nigeria, Trinidad and Tobago, Equatorial Guinea and the UAE.
These countries control about 70% of the world's gas reserves, 52% of liquefied natural gas exports, and 47% of gas supplies via pipelines.
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Added 03/03/2024 - 11:02 AM
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Economy News - follow up
The Gas Exporting Countries Forum stressed the importance of protecting the gas infrastructure, and not accepting the interference of factories in the work of gas markets, or setting a ceiling on gas prices.
The announcement of the results of the seventh summit of heads of state and government participating in the forum, held in Algeria, stated: “Emphasizing the importance of protecting vital gas infrastructure, including cross-border infrastructure, to ensure its reliability and sustainability, as well as strengthening international cooperation in the field of risk reduction and prevention.” Natural disasters, technological failures, man-made threats, including deliberate attacks, and misuse of information and communications technologies.”
As stated in the declaration, the Forum countries expressed their rejection of any artificial interference in the workings of natural gas markets, “including attempts to change pricing and risk management functions, as well as the introduction of politically motivated price ceilings, which could only exacerbate the supply shortage in the market.” and discouraging investment.
Gas exporting countries have condemned the unprecedented unilateral measures and financial measures “justified as ensuring the security of energy supplies at the expense of gas market rules,” in addition to condemning all unilateral economic restrictions taken without prior approval from the UN Security Council, which negatively affect the exploitation of fields and trade. Gas. Members also stressed the rejection of using climate change as a justification for implementing measures that hinder investment in gas projects.
In addition, the Heads of State and Government welcomed the joining of Senegal, Mauritania and Mozambique to the Forum.
It is worth noting that the Gas Exporting Countries Forum is an intergovernmental organization that includes the world's largest gas exporters. Its members currently number 12 countries: Russia, Algeria, Bolivia, Venezuela, Egypt, Iran, Qatar, Libya, Nigeria, Trinidad and Tobago, Equatorial Guinea and the UAE.
These countries control about 70% of the world's gas reserves, 52% of liquefied natural gas exports, and 47% of gas supplies via pipelines.
Views 59
Added 03/03/2024 - 11:02 AM
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